Which of the following increases the political power of special interest groups and makes counterproductive government action more likely?
a. logrolling and pork barrel legislation
b. the rational-ignorance effect
c. public goods
d. both a and b, but not c
D
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Are sales of used goods included in GDP? Explain why or why not. Hint: Remember how GDP is defined
Suppose that three consumers are in the market for good X. Consumer 1's (inverse) demand is PX = 40 ? QX; Consumer 2's (inverse) demand is PX = 50 ? 2QX; and Consumer 3's (inverse) demand is PX = 70 ? 4QX. When PX = $20, the market will demand:
A. 19.5 units. B. 47.5 units. C. 41 units. D. None of the statements is correct.
The? short-term unemployment that arises from the process of matching workers with jobs is called
What will be an ideal response?
Which of the following is an example of an activity undertaken by an entrepreneur?
A) choosing the color scheme for your renovated kitchen B) being promoted to the position of Chief of Police C) being appointed to the U.S. Supreme Court D) starting a snow cone business